Mauritius bank SBM says unit's India operations hit by cyber fraud
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(Reuters) — Mauritius banking group SBM Holdings Ltd. said on Wednesday that its Indian operations suffered a cyber fraud earlier in the week, and that the bank has potentially lost up to $14 million.
SBM said that no loss had been caused to customers and that the Indian business operations would continue as normal.
"The SBM Group remains well-capitalized and has sufficient liquidity to continue to finance its future plans," the company said.
SBM said that an internal inquiry had been initiated, with the Indian operations carrying out a full cyber security review. Recovery efforts are being pursued, and SBM expects to recover a significant portion of the stolen sum.
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